17 minute read
Inform
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REMOTE ACCOUNTANCY AFTER LOCKDOWN
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As we near the end of lockdown restrictions, businesses across the economy are reevaluating how they’d like to work in future. After a year in which people have been encouraged or required to work from home if they can, the relationship between workers and workplaces has transformed. Official figures show that 47 per cent of workers across the country have been working from home, and commentators are predicting that many will continue to do so - either in part, or entirely - long after the obligation to do so ends. There are many considerations which employers and employees need to consider; ranging from the impact different arrangements may have on mental health to productivity and team dynamics, but how will it affect accountancy and business advice services in future? At Duncan & Toplis, we work with more than 12,000 businesses and individuals with a wide range of services including accountancy, tax and business advice to HR, IT, legal and probate services. Some of our most senior team members share their experiences of how remote working has worked for clients.
Alistair Main
A break with tradition
“Before the pandemic, regardless of the fact that Duncan & Toplis was able to conduct meetings remotely, and had been doing so for International work for some time, all parties generally preferred an in-person meeting as that has always been ‘the tradition’”, explains Matthew Appleyard of Duncan & Toplis. “The pandemic has required both the profession and clients to break from tradition and embrace a remote system model”, he continues. Not long ago, face-to-face meetings and site visits were a necessity; printed paper documents needed to be examined, shared and signed, and, of course, it was a cultural expectation. But the last few years have seen advisors and clients adopting more and more systems and practices which make face-toface, in-person working less of a requirement and more of an optional preference. Back in 2019 when the first phase of Making Tax Digital was soon to come into force, many predicted that it would take years for businesses to adapt to cloud accountancy and remote systems, let alone embrace it. Post-pandemic, remote working has taken over. As the Making Tax Digital deadlines approached, some clients seized on it as a chance to streamline their services so that more could be achieved in less time through remote accountancy services, but most preferred face-to-face, in person services; even if it was simply for the purpose of looking someone in the eye and shaking their hand. This will undoubtedly play a role in determining how the balance is struck
Kay Botley Kayleigh Williams
between remote and in-person services going forward explains Duncan & Toplis director and head of healthcare, Kay Botley: “For our more regular services such as monthly/quarterly bookkeeping, VAT support and computer system training and support, working remotely has proved to be more efficient. There is also the environmental benefit of less travelling. Remote meetings have proved very successful and these will continue for any short ad-hoc meetings clients require, making us even more accessible. For annual client meetings, the feedback has been that clients would like these to be in person again when possible. I believe face-to-face meetings do create a stronger bond to secure a long lasting relationship and I look forward to seeing my clients again in person.” Prior to the pandemic, we, along with many other employers, also embraced remote working as a way to enable more flexible working for our team and to support a healthy working culture and work/life balance. This was very well received by a minority of team members and many more appreciated the opportunity to work remotely if they needed to. However, as many sectors of the economy have discovered over the last year, not all jobs lend themselves to remote working. While many of our clients have quickly adapted to remote services and they appreciate many elements of it, we understand that most clients would generally prefer more in-person meetings going forward, particularly in sectors like manufacturing where workplaces are essential. And this also suits the way we can support these sectors. “As head of manufacturing and engineering, I personally prefer to get out and about and have factory tours as this really helps with some of our work on tax projects such as R&D tax credits and capital allowances”, said tax director Kevin Edwards.
The way we’ll work in future
Now, we’re all looking toward the future when we’re able to move on from the pandemic, but the question is: When we are able to choose to go back to normality, will we go back to the way things were? “One thing we’ve learned over the course of the pandemic is that there are advantages and drawbacks of each way of working and so a balance between the two is almost certainly the best way forward,” said director, Tara Bellamy. “How that balance is positioned depends almost entirely on client choice. While remote working has not worked for some clients, others have loved the remote approach and will choose to keep this way of working.” “Several clients I have dealt with since the pandemic started have said that they would now prefer a video conference over the traditional in-person meeting” said Matthew Appleyard. “It has the benefit of avoiding the need for significant travel and it can therefore allow both parties to ‘get on’ with the rest of their day shortly afterwards.” Alistair Main, director and head of assurance, agrees: “It will be completely dependent on the clients’ needs and wants. If they have struggled to work remotely, or even if they just want us to work in-person then we will do so. However, remote working will be offered to the majority of our audit clients and I’m sure many will prefer that going forward.” Kayleigh Williams, Head of Business Services at Duncan & Toplis
Review your processes
Do you sit down and review how you complete a task, and if it is relevant or not? You should, you might find you are spending time completing a task which does not need completing or it could be completed quicker with a few changes. Going into a business it can be easy to see what can be done, when inside your business it can be challenging, because the pressing thing is to get it done, and move onto the next task. Hopefully, the following can help, based on our experience. Let us take a simple task of entering purchase invoices. You receive an email with an invoice, you open that invoice and print it, walk over to the printer, pick the invoice up, walk back to your desk, enter the invoice onto your accounting software and file the invoice away. Straight forward, and what most businesses will do. It will potentially take a minute or so to complete the whole task. What if I said this can completed quicker, saving time and money? The alternative process, you receive the invoice, open the invoice, enter the invoice on the accounting software and either attach the invoice to the software, or file the email under the supplier’s name. The number of steps in the process has reduced and will likely take approximately 30 seconds. We have now saved 30 seconds of time, if you enter 50 invoices a month that is 25 minutes saved, which can be spent on potentially more interesting tasks. We also save money, and the environment by not printing that piece of paper. Money saved it the paper, ink, and electricity, this might not be a lot, but over the course of a year it will add up. Over a year you will save 300 minutes and save maybe a ream of paper. All very positive. You may now be asking, but HMRC need paper copies, this was maybe true once, but HMRC say that records can kept on paper, digitally or as part of accounting software. We have a choice, you may prefer a paper copy, and that is your choice, but if there is a possibility to save time and money, I prefer to go down that route. I used to complete a sales analysis task for one of the first businesses I worked for, and I never understood what the information told me, or what it was used for. I was new and continued to complete this task for a couple of months. Then one day I questioned why I was doing it, and the Finance Director responded that it was not used for anything and not needed. I then asked if I could stop completing the task, to which I got a yes, then I ask about other tasks, some were relevant some were not. My point is ask, “Because we have always done it this way”, does not mean it has to continue, if you feel like a task is not adding value, or is not needed ask the question. If it is not needed, stop doing it, focus on something more important and business critical. If you want to find out more or want to talk through any of this contact GMS Accountants.
Chamber membership provides access to key information, expert advice and legal protection, enabling you to stay informed, legally compliant and free to focus on what you do best – building your business.
The M word – and how to tackle the hot topic in the workplace
When it comes to subjects to shy away from in the office or workplace – the menopause will more than likely be at the top of the list for many. Conversations about hot flushes, sleep deprivation and anxiety attacks, some of the symptoms associated with the condition, are difficult and embarrassing; and as such makes the menopause a taboo subject between employer and staff. Menopause is a hot topic, and many professional women are now suffering in silence due to home working. Peterborough-based recruitment firm Anne Corder Recruitment is leading the call locally for a better understanding and management of menopause in the workplace. Anne Corder said: “For many women in the workplace impacted by the effects and symptoms of the menopause, it can be a lonely and embarrassing time in their life. Not everyone wants to share their feelings of anxiety over meeting a new client or talk about the hot flushes felt while presenting to members of the company board. “However, these can be real scenarios which many women find it difficult to talk about, for fear of being ridiculed or not taken seriously. “While every workplace has to recognise and act upon the legal rights of women in pregnancy, the menopause is a seldom-discussed workplace matter, and yet it’s something that affects hundreds of thousands of women every year.” Menopause typically affects those aged between 45 and 55. Recent studies show that the 50-60 age bracket of those in employment is the fastest growing age group, in part a result of the trend towards an a geing population. Research has also shown that lack of sleep and other symptoms can also lead to sickness and absenteeism, impacting not only on the individual, but the company as a whole. Anne added: “Employers can take steps to ensure that women going through the menopause continue to feel valued and supported. “After all, many of these members of staff may have been with the company for many years. We would really encourage line managers to keep the lines of communication open and empathise with what is effectively a health condition.”
Are Cambridgeshire employers really ready to welcome back staff to the workplace?
The “work from home” order for office workers expires on 19 July. By then, employees in most other job roles will already be back. With many office-based roles lending themselves to remote working though, to what extent will a return be embraced by workers? Caroline White, Director from The HR Dept Cambridgeshire and North Herts says: “Although we are approaching the stage when staff are allowed back in the office, the pandemic has shown us that a degree of remote working does work for many businesses. Therefore, the first questions to ask are: who is coming back and for how much of the time? “It is clear that there is no single right answer. Among big businesses for example, Facebook has proclaimed that staff in eligible roles wishing to work from home can do so indefinitely. Conversely, Goldman Sachs has dismissed the idea of permanent remote working, arguing that it’s not appropriate for a company with an innovative, collaborative apprenticeship culture. “The final decision will come down to you as the employer, and be based upon the needs of the business, the health and safety risk assessments, and also, I’d strongly advise, taking into account staff sentiment, which may not be uniform. Some may have genuine anxiety about returning to work. Others may be desperate to get out of the house. “Understanding the reasons for their preferences will help. Modifying your plan where appropriate will create goodwill by showing that you care. For example, if a worry about using public transport during rush hour is the problem, allowing flexible start and finish times or introducing a cycle to work scheme may be a positive path forward in easing the way back. “Some businesses are implementing a full on-boarding process for staff returning after months of furlough, like the programmes normally reserved for new hires. In one survey of tech businesses, this was found to reduce the proportion of returning employees feeling anxious from 55 per cent to 28 per cent. “You may find that now is a good time to review your premises. Are they the right size for your post-pandemic workforce? Can you easily make them Covid safe? Does the location make for an easy commute? Do they offer an inspiring environment where people actually want, rather than are required, to be? “If you are going to carry on with remote or hybrid working, pay attention to how it impacts your company culture. The good news is that with so many digital channels available for connection and fostering a good culture, you should find the mix that is right for you. It will take thought and effort to implement well. There’s truth in the adage ‘Out of sight is out of mind’ though, so be careful that your culture doesn’t deteriorate without your realising it. “One thing’s for sure, the quicker Cambridgeshire employers can identify the right long-term approach for them and plan towards a smooth transition, the more successful they will be.”
Ransomware – How to avoid it and protect yourself
We often hear about ransomware from colleagues and in the media, but what is it? Ransomware is a type of harmful software Cyber Criminals use to stop you accessing your own data. Cyber Criminals will threaten to publish your personal data (in many cases publicly) and to gain access again, you will need to pay their ransom. The most common ransomware attack is through a download via an email attachment. Once the software enters your network, the download launches the ransomware program which attacks your system. Then it will replicate itself, search through your documents and encrypt the contents so that you cannot access them. There are many steps you can take to protect your data; here are just three of them: Firstly, ensure you have good anti-virus software on your device and that it is up to date. Secondly, keep good backups of your data in three different places. Thirdly, do not open any email attachments that look suspicious. These are just a few precautions you can take to protect your company’s data. If you are in need of IT support, please email ask@cambridgesupport. com call 01223 901900 or visit www.cambridgesupport.com
ACCESS TO FUNDING
The Skills Support for the Workforce Programme is here to help employers train new recruits and help them develop the skills that your business needs. Employees enrolled on the Kickstart scheme are eligible for funded training and we also offer training and qualifications for your existing workforce. The programme is co-financed by the Education & Skills Funding Agency and European Social Fund which means many of the courses and qualifications on offer are free for you to take advantage of. Visit the Skills Support for the Workforce website for more information https://bit.ly/3w4jDK9
Need help with Customs Declarations? Need help with Customs Declarations?
Give Cambridgeshire Chambers of Commerce a call on Give Cambridgeshire Chambers of Commerce a call on 01223 237414 and speak to the International Trade team 01223 237414 and speak to the International Trade team
Chamber membership provides access to key information, expert advice and legal protection, enabling you to stay informed, legally compliant and free to focus on what you do best – building your business.
Digital connectivity will pave the way for a new era in healthcare
Years from now, when we reflect on the millions of healthcare professionals that rose to the challenge to fight COVID-19 with bravery, dedication and courage, will we see the pandemic as a turning point when healthcare truly embraced a digital transformation? COVID-19 has become a catalyst for change in many ways, accelerating digitalisation across the board. We’ve seen email, telephone and video consultations replace face-to-face appointments and an explosion in the use of healthcare apps and web platforms to check symptoms, stay informed and find new ways to keep fit and healthy. GP practices and hospitals in Peterborough and indeed, nationwide, have adapted with incredible agility to provide crucial services, from remote diagnosis and treatment to symptom tracking and online test booking. This has made many services more accessible and more efficient than ever before, even for the most remote or vulnerable of patients. But is our infrastructure up to the challenge of further digitalisation across the entire health service?
FULL FIBRE – A FOUNDATION FOR DIGITAL TRANSFORMATION
The more widely available full fibre is, the easier it will be for this momentum towards a digital transformation in healthcare – hence why the Government has made levelling up connectivity across the country a key part of its ambitions. With the UK set to have 80 per cent of the country covered by gigabit-capable broadband by 2025, now is the time for those within the healthcare industry to start thinking about what this could potentially unlock for them in the form of new digital services. Innovation in this space is already unlocking many new insights into healthcare, making it possible to develop therapies and approaches that could strengthen health and care services in the face of perhaps more, as yet, unknown challenges. Harnessing analytics, for example, is already proving invaluable in the diagnosis and treatment of various cancers, while data platforms have allowed for rapid research into the spread and risk factors associated with COVID-19. Governments and local authorities in a growing number of countries, including South Korea, have used analytics to trace the contacts of people infected with the virus. Closer to home, the Newcastle University Urban Observatory has used sensor data to identify bottlenecks where social distancing cannot be maintained, understand how citizens adapt as restrictions are imposed or lifted and ultimately, prepare for future crises. Using digital healthcare tools and data as a preventative tool has potential applications on a much grander scale – even to identify and quash future pandemics.
BUILDING A DIGITAL FUTURE
At CityFibre, we’re hard at work to bring full fibre to towns and cities across the UK. We know that change is constant, and that what we rely on today in terms of infrastructure will not be sufficient in the decades, years, even months that lie ahead. The UK Government’s current aim is for every NHS hospital, GP practice and community care service to gain access to full fibre broadband as soon as possible and there are a several towns and cities across the UK, just like Milton Keynes University Hospital (MKUH), which we have already helped make the switch. Ultimately, we want full fibre to be the standard communications infrastructure across the UK; not just for public services, but for citizens and businesses too. This will be a critical element in ensuring communities across Peterborough can use online health services effectively and that the shift to digital healthcare reaches its full potential.
